By Will Feuer
GlobalFoundries issued a soft outlook for current-quarter revenue, but the chip maker’s profit forecast was upbeat.
The company, based in Malta, N.Y., is targeting fourth-quarter revenue of $1.825 billion to $1.875 billion. Analysts surveyed by FactSet were expecting $1.89 billion.
GlobalFoundries is forecasting fourth-quarter adjusted earnings of 53 cents a share to 64 cents a share. Analysts were expecting 53 cents a share, according to FactSet.
Chief Executive Thomas Caulfield warned of an uncertain geopolitical and global economic landscape. He said customers are looking to reduce their inventory levels.
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